180 Wealth Advisors LLC reduced its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,745 shares of the CRM provider’s stock after selling 97 shares during the quarter. 180 Wealth Advisors LLC’s holdings in salesforce.com were worth $1,471,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of CRM. Two Sigma Advisers LP purchased a new stake in shares of salesforce.com in the first quarter valued at $245,000. Maverick Capital Ltd. acquired a new position in shares of salesforce.com during the first quarter valued at about $491,000. Morgan Stanley grew its holdings in shares of salesforce.com by 2.6% during the first quarter. Morgan Stanley now owns 10,834,351 shares of the CRM provider’s stock valued at $1,559,929,000 after buying an additional 278,879 shares during the last quarter. AXA boosted its holdings in salesforce.com by 13.2% during the first quarter. AXA now owns 642,117 shares of the CRM provider’s stock worth $92,452,000 after purchasing an additional 74,972 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in salesforce.com during the first quarter worth about $1,398,000. Hedge funds and other institutional investors own 81.40% of the company’s stock.
CRM traded down $10.89 during trading on Monday, reaching $239.63. 350,352 shares of the stock were exchanged, compared to its average volume of 4,306,193. The business’s 50 day moving average price is $251.50 and its two-hundred day moving average price is $201.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market capitalization of $231.35 billion, a price-to-earnings ratio of 92.96, a P/E/G ratio of 8.51 and a beta of 1.27. salesforce.com, inc. has a 1 year low of $115.29 and a 1 year high of $284.50.
CRM has been the topic of several research reports. Mizuho boosted their price target on shares of salesforce.com from $230.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of salesforce.com from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Canaccord Genuity boosted their price target on shares of salesforce.com from $200.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Royal Bank of Canada boosted their price objective on shares of salesforce.com from $220.00 to $275.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $235.00 price objective (up previously from $220.00) on shares of salesforce.com in a research note on Wednesday, August 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and three have issued a strong buy rating to the company. salesforce.com presently has an average rating of “Buy” and an average target price of $248.60.
In other salesforce.com news, CFO Mark J. Hawkins sold 8,801 shares of the stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $254.20, for a total transaction of $2,237,214.20. Following the completion of the transaction, the chief financial officer now directly owns 16,344 shares of the company’s stock, valued at approximately $4,154,644.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 5,000 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $190.94, for a total value of $954,700.00. Following the transaction, the insider now directly owns 66,132 shares of the company’s stock, valued at $12,627,244.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 724,767 shares of company stock worth $171,148,885. 4.40% of the stock is owned by insiders.
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.
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